Daily Metals Mining Rundown for 4 Mar 2026 (after-market ASX)

Silver and platinum prices recommenced their upward march over past ~24 hours, each rising +3% (after having dropped sharply the day before); Copper, nickel, and palladium are also in the green, rising +1.6% and +2.6% over past day, while gold remained relatively flat; Most mining stocks traded down by multiple percent or more over past session - with losses led by uranium miners - and with smaller cap miners across the metals spectrum generally showing some resilience and trading more flat; Covered announcements include updated PEA and MRE by Sonoro Gold for its Cerro Caliche project in Mexico.

Author

Host Rock Capital
March 04, 2026

Today’s metal price movements (over past ~24 hrs) and mining company peer group movements through ASX trading (including yesterday’s TSX/NY movements):

Top and bottom 40 daily performing metals mining company stocks (out of 504 in our Peer Table) through ASX trading (including yesterday’s TSX/NY movements):

No company announcements incorporated into today’s after-market ASX Peer Table (resource updates, economic studies, changes in attributable project ownership):

  • 28 Feb 2026 - Gold developer Sonoro Gold Corp (TSXV:SGO) announced the results of an independent updated mineral resource estimate (MRE) and an updated PEA on its flagship Cerro Caliche gold project in Sonoro, Mexico. The study contemplated a 10-yr, 16 ktpd open pit and heap leach operation. Mineral resources increased by 73% to 0.83 Moz AuEq (85% Au/15% Ag) according to our retrieved numbers, which helped increase production rates compared to the 2023 PEA. And although this 2026 study’s somewhat larger mine plan with higher production rates did not quite offset cost inflation since the 2023 study (NPV fell slightly by ~5% at our 3-month trailing gold price $4,747/oz), this MRE and PEA was reported to reflect less than 30% of the known mineralized zones on the Cerro Caliche concession that was recently nearly tripled in size - so the potential for future expansion of the proposed mine in both capacity and mine life is considered favorable (as management reports). Post-tax NPV is US$447m at our estimated 3-month trailing average gold price $4,747/oz Au, which is slightly (~5%) below the 2023 PEA result (according to metal price sensitivities provided in the studies), and yields a similar P/NAV of 0.15x at 28c/sh (in-line with 77-company gold developer group median 0.14x at same $4,747/oz Au) - after SGO stock rose +4% over past 7 trading days (in-line with group median gain +4%), to 28c/sh (intraday 3 Mar), market cap C$91m, market cap/oz resource US$80/oz AuEq (in-line with group median US$80/oz). The study’s reported post-tax NPV was US$224m at gold price US$3,500/oz from initial capital of only US$83m including $11m contingency (heap leach does not require a costly mill) with fairly low AISC of US$1,902/oz (mid-range AISC seems to have risen in recent years from the ball park of ~US$1,500/oz to ~$2,000/oz - reflecting gold prices of $3,000/oz and $4,000/oz according to the rule of thumb that AISC should be one-half of the gold price in the long term).

Disclaimer: Provided for informational and educational purposes on an ‘as-is’ basis, and is not investment advice. For full disclosures, visit www.hostrockcapital.com/disclosures.